News

March 10, 2010

Silver Lake Looks Right At Home In The S&P 300, As It Looks To Bring A Second Gold Project Up Towards A Production Decision

By Our Man in Oz

If it worked well the first time, why not do it again? That could be the motto of Silver Lake Resources, now established as one of the most successful Australian gold miners of the past decade, and which currently looks to be on track to create a second production centre. The latest drilling results from the company’s Murchison Project have revealed “shallow, thick, and high grade” intersections, and these could prove to be the trigger for development. If so it could be the beginning of the creation of a mining centre to rival the company’s Mount Monger operations, which have just played the lead role in getting Silver Lake elevated into the ranks of Australia’s top 300 companies.

That it’s joining the S&P 300 index little more than three years after listing gives some clue as to how well Silver Lake has performed, though a share price rise from A30 cents to A$1.15 over the past 12 months is even more interesting for investors. The strength in the gold price since the company listed in late 2007 has certainly helped, but the key to Silver Lake’s success has been its ability to extract value from assets in a way which has eluded previous owners. Both of the company’s...